Author Of New Drug Transparency Law Hopes Rest Of Country Will Follow In California’s Footsteps
News outlets report on stories related to pharmaceutical pricing.
On Monday, California adopted a law that requires drug makers to explain and justify price hikes, making it only the third state in the country to demand some transparency in response to rising medicine prices. Although the law does not actually allow the state to control pricing, the pharmaceutical industry fought the effort over concerns other states will now pursue similar legislation, since California is often seen as a bellwether. We spoke with state Sen. Ed Hernandez, the Democratic legislator who shepherded the bill 鈥 and who believes it can force a change in the national conversation about drug pricing. (Silverman, 10/10)
Biotech executives appear slightly less concerned about drug pricing than in the recent past, according to a new analysis, but the continued pressure from payers and lawmakers to bring down costs does still weigh on them. A review of risk factors cited by the 100 largest companies listed in the Nasdaq Biotechnology Index found 84 percent cited worries over pricing pressures, according to the BDO advisory and consulting firm, which examined the most recent crop of annual filings with the US Securities and Exchange Commission. (Silverman, 10/5)
Gridlock under the Trump administration, particularly the repeated failures to repeal and replace Obamacare,聽is riveting the nation鈥檚 attention. Yet at least one government agency is running smoothly -- and even accelerating its operations. The U.S Food and Drug Administration, under Commissioner Scott Gottlieb, is taking advantage of policy groundwork laid in past years to speed drug approvals. Thirty-four new drugs -- treating everything from cancer to rare genetic diseases -- have been approved so far this year. That鈥檚 on pace to nearly double last year鈥檚 approvals. So far, at least nine decisions came more then 20 days ahead of the FDA鈥檚 scheduled action date. (Chen and Paton, 10/6)
Call it a one-two punch. At the same time California Governor Jerry Brown signed a law requiring drug makers explain and justify price hikes, he also signed another law prohibiting the use of prescription drug coupons when a lower-priced medicine is available. The law reflects controversy over the role that coupons play in the debate over rising health care costs, and also arrives as state and federal authorities examine other forms of financial assistance that the pharmaceutical industry provides patients. (Silverman, 10/10)
Maryland has permission to go after prescription drug price gouging.A federal judge gave the go-ahead last week. Drug makers had attempted to block the state鈥檚 first-in-the-nation law targeting extreme increases in generic drug prices. The ruling adds Maryland to a growing number of states taking action against high drug prices, as Congress lags behind with similar proposed legislation. (Radcliffe, 10/10)
When people believe a medicine is expensive, they may show a greater response to it. Researchers told 49 volunteers that they were testing two anti-itch creams 鈥 one that was costly, and one cheap 鈥 that contained the same ingredient known to reduce itch, but that the ingredient sometimes increased sensitivity to heat. (Bakalar, 10/5)
Amazon.com Inc. is almost certain to enter the business of selling prescription drugs by 2019, said two analysts at Leerink Partners, posing a direct threat to the U.S.鈥檚 biggest brick-and-mortar drugstore chains. 鈥淚t鈥檚 a matter of when, not if,鈥 Leerink Partners analyst David Larsen said in a report to clients late Thursday. 鈥淲e expect an announcement within the next 1-2 years.鈥 (Langreth and Soper, 10/6)
Susan Waite, 48, still remembers hearing her disease's name, myelofibrosis, for the first time five years ago. "You Google," she says. "I know you're not supposed to, but everybody does. And at the time the average life expectancy was two and a half years." This rare cancer was turning her bone marrow, which produces blood cells, into scar tissue, leaving her anemic. She had one child in high school and two more in college, and was so tired she'd gone from being a social butterfly to a person who goes to bed right after dinner. Her spleen was so enlarged with blood cells that it hurt and prevented her from eating. (Herper, 10/10)
The $1 million medicine is coming. On Thursday, a committee of experts invited by the FDA will meet outside Washington D.C. to review an experimental gene therapy from Spark Therapeutics (ONCE). Barring unexpected surprises, the experts will advise the FDA to approve the one-time shot, which will be used to treat a rare, inherited form of childhood blindness. (Feuerstein, 10/9)
With Medicare's open-enrollment period approaching -- Oct. 15 to Dec. 7 -- you should be getting ready to review your Medicare prescription drug coverage. Your goal is to minimize your total out-of-pocket spending for prescription drugs, including your premiums, co-payments and deductibles. Let's first look at some basic information about prescription drug coverage under Medicare. (Vernon, 10/10)
For decades,聽Chinese patients have struggled to gain access to cutting-edge medicines thanks to bureaucratic delays that have hamstrung drug development. Now a sweeping government overhaul of drug approvals is poised to change that. 聽Beijing on Sunday announced new rules that will speed up approvals of medicines and medical devices, easing bottlenecks in introducing new treatments. The move is also a growth opportunity for international and local drugmakers in the world鈥檚 second biggest pharmaceutical market. It also parallels the acceleration of approvals by the U.S. Food and Drug Administration. (10/8)
The experimental drug has startling powers: It can turn down a mutant gene in a patient鈥檚 body, stopping the production of proteins that cause a terribly painful rare disease. A crucial, late-stage clinical trial showed that the drug works 鈥 and that it鈥檚 safe. And now the biotech company behind it, Alnylam, is poised to bring this first-of-its-kind therapy to market. (Keshavan, 10/5)
It's no secret that medicine in America is not cheap. "We're paying four to five times more than any nation in the world, and we consume more than any other nation in the world," said David Little, a communications consultant for Ohio Taxpayers for Lower Drug Prices. (Dykes, 10/9)
Pricey prescriptions can easily sink聽family budgets but United Way of Metropolitan Nashville has helped connect more than 52,000 people to a discount program that's saved them millions of dollars in prescription costs. Families around Nashville have saved about $7 million at the pharmacy through United Way's decade-long partnership with聽FamilyWize, a for-profit company聽that offers prescription discount cards. People using the program in Rutherford and Cannon counties have saved an additional聽$836,146, according to an estimate from United Way officials. (Fletcher, 10/4)